Yahoo Finance UOL-SingLand JV Watten House is 74% sold since its official launch on March 2
According to the developer, seven of the eight penthouses have been sold at prices ranging from $3,440 psf and $3,550 psf.
Joint venture partners UOL Group and Singapore Land Group U06 (SingLand) announced that 133 units (74%) of the 180 units at Watten House have been sold as at March 16. The average price achieved is $3,250 psf to date.
The project was officially launched on March 2, after an exclusive private preview last November, which saw 102 units sold. According to the developer, seven of the eight penthouses have been sold at prices ranging from $11.7 million to $14.5 million, or between $3,440 psf and $3,550 psf.
In addition to its almost sold-out penthouses, over 80% of the four- and five-bedroom units have been taken up. In contrast, all the three-bedroom units (without private lifts) have been sold, says Anson Lim, UOL general manager for residential marketing.
Available units are three-bedroom-plus-study of 1,539 sq ft to 2,368 sq ft, five-bedroom units with private lift.
According to Lim, 95% of the buyers are Singaporean and Singapore permanent residents (PRs). The remaining 5% are foreign buyers from the US and Switzerland, countries with free trade agreements with Singapore and whose citizens enjoy the same tax treatment as Singaporeans. Therefore, most foreigners are not subjected to a 60% additional buyer's stamp duty.
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